With the advent of bitcoin, other altcoins soon registered their presence in the crypto markets and the need for trading them increased at a rapid pace. There are more than 250 centralized and decentralized crypto exchanges in the world today which are responsible for huge trade volumes and liquidity across the industry. It is quite easy to set up an online exchange which is a driving factor in their growth as registering exchanges simply does not require any testaments and from a centralized authority. According to Coinmarketcap, there are more than 20k active cryptocurrencies which means that there is the same number of trading pairs available on these exchanges averaging to about 70+ pairs on each exchange.
In the previous article, we talked about the top 3 crypto exchanges and some of their governing factors such as fees, leverage, key features, and more. Today we are talking about their founding members and the recent development these exchanges are facilitating.
Binance: Changpeng Zhao
Founder of the world’s largest crypto exchange Changpeng Zhao had previously founded Fusion Systems in 2005 in Shanghai; the company specialized in building high-frequency trading systems for brokers. Zhao is a Chinese-Canadian business executive who was previously a member of the team that created Blockchain.info and also served as a CTO of OKCoin.
Coinbase: Brain Armstrong
Brian Armstrong is a software engineer, risk manager, consultant, and crypto entrepreneur. He started his career in 2012 by taking the table as the CEO of Coinbase. He has also co-founded the GiveCrypto foundation, a charity that has raised $4 million in cryptocurrency donations for impoverished people.
Kraken: Jesse Powell
A veteran of 5 years in the crypto industry Jesse Powell is a graduate of California State University-Sacramento. He previously founded a platform that provided various account management services for MMORPG or Massively Multiplayer Online Role-Playing Game. He is one of the oldest crypto enthusiasts and advocates.
These exchanges are making a huge difference in how the world witnesses cryptocurrencies. All their founders are quite reputed and have served in prominent positions in world-renowned companies and it is wise to believe that all the user funds and security are in safe hands. With many unique features and developments to come, the crypto exchanges will continue evolving and make crypto accessible to the masses.